AvePoint announced the expiration of its offer to purchase all outstanding publicly traded warrants on September 24, 2024. The company offered to buy these warrants at a price of $2.50 per warrant in cash, without interest.
As of the expiration date, 1,596,314 warrants were validly tendered and not withdrawn, representing approximately 9.1% of the total outstanding warrants. AvePoint accepted all validly tendered warrants and expects to pay an aggregate of approximately $4.0 million in cash for these purchases.
Concurrently, AvePoint's solicitation of consents to amend the Warrant Agreement, which would have allowed the company to redeem untendered warrants for $2.00 each, did not receive the required 50.1% approval. Only approximately 9.1% of outstanding warrant holders consented to the amendment, meaning the Warrant Amendment was not approved.
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